Cherry Street Services Inc

Analysis

Cherry Street Services Inc is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in May 1989, 37 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2023, Cherry Street Services Inc reported income of $91.9m and spending of $83.9m, spending 91% of its income. Across the 4 years on record, from March 2020 to March 2023, income grew from $77.9m to $91.9m (+18%), an average of +5.7% a year. Over the whole period it spent 93% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Cherry Street Services Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MI. Charities of a similar size with the same main cause include Holy Rosary Healthcare ($91.8m), Center for Organ Recovery and Education ($91.9m) and International Community Health Services ($91.8m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 24% and program service revenue 73% of the total. Compensation of current officers, directors and key employees was $676k (0.8% of expenses). Other salaries and wages came to $44.6m. At year end it held assets of $102.2m against liabilities of $26.5m, net assets of $75.6m. It reported 1,029 employees.